Which of the following is the largest category of federal government expenditures?

Suppose that the production function is Y = AK0.7L0.3, the number of workers equals 800, the capital stock is $150,000, and total factor productivity is 3

What is the value of real GDP? What will happen to real GDP if total factor productivity doubles?

The proposition that the amount of goods and services produced in an economy in the long run is not affected by the price level is known as the ________

A) neutrality of money B) classical dichotomy C) quantity theory of money D) Fisher effect E) none of the above